Inheritance Law (sometimes called Wills Inheritance Law (sometimes called Wills and Probate) is concerned with the and Probate) is concerned with the distribution of a person’s property distribution of a person’s property following their deathfollowing their death

This may occur either in accordance with This may occur either in accordance with the provisions of a will, or under the provisions of a will, or under applicable rules relating to intestacy applicable rules relating to intestacy (when a person dies without having (when a person dies without having made a will)made a will)

‘‘Last will and testament’ Last will and testament’ The document by which a person directs The document by which a person directs

what should happen to their property what should happen to their property after their deathafter their death

A will must be made of free will, without A will must be made of free will, without coercion and it must be:coercion and it must be:

1) in writing, 1) in writing, 2) signed by the testator (the person 2) signed by the testator (the person

making the will), and making the will), and 3) witnessed by at least two witnesses3) witnessed by at least two witnesses

The testator must be over 18 when the The testator must be over 18 when the will is made and of sound mindwill is made and of sound mind

The will must appoint one or more The will must appoint one or more persons to carry out the terms of the will persons to carry out the terms of the will (executors)(executors)

Persons who inherit property under a willPersons who inherit property under a will The property of a deceased person is The property of a deceased person is

known as their estateknown as their estate It may comprise land and real estate It may comprise land and real estate

(real property or realty) and all other (real property or realty) and all other property (personal property or property (personal property or personalty)personalty)

A will can be revoked or altered in the A will can be revoked or altered in the following ways:following ways:

1. By making a new will that makes it 1. By making a new will that makes it clear that the previous will(s) are revokedclear that the previous will(s) are revoked

2. By destruction of the previous will2. By destruction of the previous will 3. By marriage or divorce3. By marriage or divorce 4. By amendment (an attached codicil)4. By amendment (an attached codicil)

A bequest which stops when you die (f.e. A bequest which stops when you die (f.e. the right to live in a house for your the right to live in a house for your lifetime)lifetime)

When you die, the house etc. becomes When you die, the house etc. becomes the property of the ‘remainderman’ the property of the ‘remainderman’ named in the willnamed in the will

The person who is given a life interest is The person who is given a life interest is called the ‘life-tenant’called the ‘life-tenant’

What is left to distribute from the estate What is left to distribute from the estate once all the debts and taxes have been once all the debts and taxes have been paidpaid

If you die without a will (die intestate), If you die without a will (die intestate), there are rules which dictate how your there are rules which dictate how your estate should be allocatedestate should be allocated

Unmarried partners cannot inherit from Unmarried partners cannot inherit from each other unless there is a willeach other unless there is a will

If you have children, arrangement for the If you have children, arrangement for the children should be made if either or both children should be made if either or both parents dieparents die

http://www.youtube.com/watch?v=4X7jbI9M3uY

How much money and what property and How much money and what property and possessions you havepossessions you have

Who you want to benefit from your willWho you want to benefit from your will Who should look after any children under Who should look after any children under

18 (a guardian)18 (a guardian) Who is going to sort out the estate and Who is going to sort out the estate and

carry out your wishes as set out in the carry out your wishes as set out in the will (executors)will (executors)

To die intestateTo die intestate In that case, the person’s property is In that case, the person’s property is

distributed in accordance with the distributed in accordance with the intestacy rulesintestacy rules

The order of priority (family) – heirs by The order of priority (family) – heirs by intestacyintestacy

The official document which confirms The official document which confirms that the will is valid and states who the that the will is valid and states who the executors areexecutors are

Generally, the term probate is used to Generally, the term probate is used to refer to the various laws and courts refer to the various laws and courts which deal with wills, intestacy, which deal with wills, intestacy, inheritance and disputes over estatesinheritance and disputes over estates

Read Unit 24 (p. 114) and answer the following questions:

What is Mr. Yorke-Parker entitled to? What does the estate consist of? How will the ultimate residue be divided?

Suppose you have received this letter and write a letter to the solicitors in reply

Testator – oporučiteljTestator – oporučitelj Executor – izvršitelj oporukeExecutor – izvršitelj oporuke Beneficiary (legatee) – nasljednikBeneficiary (legatee) – nasljednik Pecuniary legatee – nasljednik koji Pecuniary legatee – nasljednik koji

nasljeđuje gotovinunasljeđuje gotovinu Real estate – nekretnineReal estate – nekretnine Revocation of a will – opoziv oporukeRevocation of a will – opoziv oporuke Alteration of a will – izmjena oporukeAlteration of a will – izmjena oporuke Life interest – doživotno pravo uživanja Life interest – doživotno pravo uživanja

posjedaposjeda Bequest – ostavština, oporučni dar, Bequest – ostavština, oporučni dar,

nasljedstvo nasljedstvo

To die intestate – umrijeti bez oporukeTo die intestate – umrijeti bez oporuke Intestacy – nepostojanje oporukeIntestacy – nepostojanje oporuke Heir by intestacy – zakonski nasljednikHeir by intestacy – zakonski nasljednik Probate – sudska ovjera oporukeProbate – sudska ovjera oporuke Probate court – ostavinski sudProbate court – ostavinski sud

Complete the following passage:Complete the following passage: A will should name an estate A will should name an estate

___________ to guide the estate through ___________ to guide the estate through the ___________ process. A will should the ___________ process. A will should also name a ____________ if there is a also name a ____________ if there is a minor child involved. In the absence of minor child involved. In the absence of a valid will, the _____________ decides a valid will, the _____________ decides who will inherit the property and who will inherit the property and distributes it to the legal __________ distributes it to the legal __________ based on the laws of the state.based on the laws of the state.

A will should name an estate EXECUTOR A will should name an estate EXECUTOR to guide the estate through the PROBATE to guide the estate through the PROBATE process. A will should also name a process. A will should also name a GUARDIAN if there is a minor child GUARDIAN if there is a minor child involved. In the absence of a valid will, involved. In the absence of a valid will, the PROBATE COURT decides who will the PROBATE COURT decides who will inherit the property and distributes it to inherit the property and distributes it to the legal HEIRS based on the laws of the the legal HEIRS based on the laws of the state.state.